West African Iron Ore Completes Debt Settlement

TSX VENTURE EXCHANGE: WAI

VANCOUVER, June 14, 2013 /CNW/ - West African Iron Ore Corp. (TSX-V: WAI) West African Iron Ore Corp. ("WAI" or the "Company") is pleased to announce that further to the news release of May 24, 2013, the Company has issued a total of 2,415,000 common shares to non-executive directors pursuant to the previously announced settlement of $241,500 in accrued directors' fees. The shares issued are subject to a hold period expiring October 6, 2013.

The Company also announces that it has granted 3,605,000 stock options to certain directors, officers and employees, exercisable at a price of $0.10 per share for a period of 10 years.

About the Company:

West African Iron Ore Corporation is dedicated to the sustainable development of its mineral resources in the Forécariah provinces of the Republic of Guinea. We nurture a harmonious working relationship with the local community and the Guinean authorities. We advocate the minimization of environmental impact and the promotion of economic opportunity for all our stakeholders.

ON BEHALF OF THE BOARD
Guy Duport
CEO

Statements in this release that are forward-looking statements are subject to various risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk.
Readers should also refer to the specific factors disclosed under the heading "Risk Factors" in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: West African Iron Ore Corp.